PETALING JAYA: Candy confectionery manufacturer and distributor Khee San Berhad
(KSB) has formalised an underwriting agreement for its proposed rights issue.
Undertaken with M&A Securities Sdn Bhd as the principal advisor and managing underwriters, together with Kenanga Investment Bank Bhd and Malacca Securities Sdn Bhd, KSB said the agreement represents a significant step in its strategic plan to strengthen its financial position and enhance prospects for sustained growth.
“As part of KSB’s regularisation plan, which was recently approved by Bursa Malaysia and KSB shareholders, the proposed rights issue involves the issuance of up to 960.96 million shares and up to 549.12 million warrants on the basis of four warrants for every seven rights shares subscribed.
“With the rights shares priced at 10 sen each, the exercise is expected to raise between RM65mil on a minimum subscription basis and RM96.1mil under the maximum scenario.”
KSB executive chairman Yong Loong Chen said the underwriting agreement for the rights issue is testament to the confidence the company’s stakeholders have in its recovery and growth potential.
“With seven consecutive quarters of profitable results and clear expansion plans, KSB is well-positioned to accelerate growth domestically and internationally, continuing our legacy, which spans over seven decades as a trusted Malaysian confectionery brand.”
